Lithia Motors, Inc. is one of the leading automotive retailers of new and used vehicles, and related services in the United States. As of Dec 31, 2021, the company offered 40 vehicle brands across 278 stores in 22 states within the United States and three Canadian provinces. The core brands offered by Lithia Motors include Chrysler, General Motors, Toyota, Subaru, Honda, Acura, Ford, BMW, MINI, Nissan and Hyundai.

Lithia Motors offers tailored service complemented through its nationwide network. Further, it has the largest online inventory with competitive pricing on vehicles and service. In July 2020, Lithia introduced Driveway, e-commerce platform, that allows the company to deliver differentiated, proprietary digital experiences.

Apart from a wide range of new and used vehicles, the company offers finance and insurance products, and automotive repair and maintenance. It focuses on diversification of products, services, brands and geographic locations to reduce dependence on one manufacturer along with reducing exposure to shifting consumer preferences.

Lithia Motors has three reportable segments as follows — Domestic, Import and Luxury.

The Domestic unit has retail automotive franchises that sell new vehicles manufactured by Chrysler, General Motors and Ford. The Import segment comprises retail automotive franchises that sell vehicles manufactured primarily by Honda, Toyota, Subaru, Nissan, Kia, Mazda, Hyundai and Volkswagen. The Luxury segment comprises retail automotive franchises that sell new vehicles manufactured primarily by BMW, Mercedes-Benz Audi, Lexus, Acura, Porsche, Jaguar, Land Rover, Mini, Infiniti, Rolls-Royce, Lamborghini, McLaren, and Pagani.

Apart from new vehicles, all the above segments deal in used vehicles, parts and automotive services, and automotive finance and insurance products for the brands.

Lithia’s business mix consists of New Vehicles (accounted for about 49% of the company’s revenues in 2021), Used Vehicles (36%), Parts and service (9.2%), Fleet and Other (1.2%) and Finance and insurance (4.6%).

As of December 31, 2021, Lithia had liquidity of $1.5 billion, which was comprised of $174.8 million in cash and $1.3 billion availability on our credit facilities.